Right now we see lots of ranging plays going up and down testing the support line around 3555 several times. Since bullish attempts to crack the upper resistance lines have failed, the lower support must break to build momentum for an attempt to 3830+ region. As targets i guess the older support and resistance lines used back in december and january will still be...
Since BTC is heading back down to ultimate low at 3120 area, there is possibility of building a double bottom. The falling wedge supports the expectation
of an upcoming uptrend since it is generally a bullish signal. for the double bottom to be confirmed BTC needs to break the resistance area at 4200-4250.
If this happens, double bottom is confirmed an we should...
The current ranging moves in the 3400-3430 area seems to form an ascending triangle ,
indicating an upward breakout. The triangle playing out sets my buying zone to the 3390-3410 area.
The 0.78 Fib Retracement seems to be a first target, 3483 as the 100% retracement probably be taken
in wicks.
Since im still trying to get into patterns and TA i publish this as my first chart. Recognized this pattern for the last two legs down as an almost
perfect symmetry.
Regarding this chart, i guess there will be some more sideways before XBT dips down to 3200 with wicks down to 3160.
However i expect a pullback up when triggering the 200MA region around 3300-3320,...
